WRITTEN BY NORA BULI AND BOZORGMEHR SHARAFEDIN ON FEB 23, 2023. POSTED IN LATEST NEWS
Europe Racing To Refill Gas Storage For Next Year Despite Mild Winter
lng gas terminal europeAs Europe emerges from a mild winter with gas storage close to record levels, it must brace for another costly race to replenish its reserves on the international market.
European gas prices rallied in the run-up to Moscow’s invasion of Ukraine began almost exactly a year ago and they leaped to record highs when Russia subsequently cut supplies of relatively cheap pipeline gas. [emphasis, links added]
Although European prices have eased to around 50 euros ($53) per megawatt-hour (MWh) from last August’s peak of more than 340 euros, they remain above historical averages.
That means European governments face another huge bill to refill storage before peak winter demand.
https://climatechangedispatch.com/europe-racing-to-refill-gas-storage-for-next-year-despite-mild-winter/
